The third quarter portfolio of Daniel Loeb’s Third Point LLC lists 35 stocks and a total value of $4 billion with a quarter-over-quarter turnover of 25%. Guru Loeb has bought nine new stocks, according to the GuruFocus update of Nov. 14, 2013. Loeb’s average return over 12 months is 22.53%. Daniel Loeb’s highest impact decrease for the third quarter was reducing his Yahoo! Inc. (YHOO) position by 74.19%, with a portfolio impact of -26.19%. Read about Loeb’s YHOO trade.

Here are four more high-impact sells and reductions made by Daniel Loeb in the third quarter of 2013, starting with his sell out of Tiffany & Co. (TIF). Tiffany’s worldwide net sales were up 4% at $926 million in the second quarter of 2013. The company reported a 16% increase in quarterly net earnings at$107 million, up from $92 million in the same quarter of 2012. Earnings of $0.83 per diluted share were also up from the same quarter of 2012 at $0.72 per diluted share. Total sales for the company’s Asia-Pacific region were up 20% for the reporting quarter, compared to the Americas region, with total sales up 2%, according to a company press release.

Up 38% over 12 months, Tiffany & Co. has a market cap of $10.54 billion; its shares trade with a P/E ratio of 24.50. The dividend yield is 1.60%.

Guru Action: As of Sept. 30, 2013, Daniel Loeb sold out his TIF holding, unloading 1,650,000 shares at an average price of $78.74, for a gain of 4.6%.

The current share price is around $82.24, with a change from average up 4%.

Loeb held TIF for three quarters. In the first quarter of 2013, he gained 26.1% on a new buy of 2,700,000 shares at an average price of $65.34 per share. Selling 1,050,000 shares in the second quarter of 2013, he made a gain of 10.5%, selling at an average price of $74.53 per share.

GuruFocus Real Time Picks reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.

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